The Ethiopian Securities Exchange (ESX) has announced that four companies have received Approval in Principle to list on its Main Market, marking another milestone in the development of Ethiopia’s capital market.
The companies are Ayat S.C., Sidama Bank, Nib Insurance S.C., and ZamZam Bank. According to ESX, the approvals allow the companies to advance to the next stage of the listing process before their shares can begin trading on the exchange.
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Ayat S.C., Sidama Bank, and Nib Insurance are expected to finalize their securities registration with the Ethiopian Capital Market Authority (ECMA) and publish their prospectuses. ZamZam Bank has already completed its securities registration and published its prospectus, bringing it a step closer to listing.
ESX said the growing pipeline reflects increasing confidence among Ethiopian businesses in raising long-term capital through the country’s emerging capital market. The exchange reaffirmed its commitment to supporting prospective issuers throughout the listing process while working with market participants to build a transparent, efficient, and vibrant securities market.
The exchange also encouraged prospective investors to engage with licensed market intermediaries to better understand the investment opportunities available as Ethiopia’s capital market continues to expand.
